First, read these links. I must say I love seeing an industry professional be honest. Rachelle Gardner takes three posts to compare the bankruptcy of Kodak to the publishing industry. The questions underneath are discussed more in depth on Rachelle’s blog. Click on the links.
Do you know what business you’re in?
1. We need to correctly identify the business we’re in.
2. We can’t be afraid of cannibalizing our own businesses in the short run to make progress in the long run.
3. We should find new ways to generate revenue while serving consumers’ wants and needs.
4. We can acknowledge that the customer has considerable impact on the market.
5. We shouldn’t underestimate the public’s willingness to adapt to new ways of doing things.
6. Focus on our consumer’s needs and wants, rather than the perpetuation of our own products and business models.
7. The time is now (or three years ago) to begin changing and preparing for future more cataclysmic changes?
8. If we’re not flexible and open to change, our business will be overtaken by upstarts.
9. It’s crucial we stay well-informed on technology and consumer trends, and develop plans to effectively respond to the ever-changing information.
10. We must keep asking questions, and do our best to make sure we’re asking the right ones.
And what we must remember is that it’s not only the publishers that must prepare and change for future events. What about the content providers? You know, us, the writers, the authors.
I’ve already had to make changes, and I’m continuing to think about the future and what else possibly might need to change.
What do you think?